Tag Archives: AA News

South Korean prosecutors revealed on Monday that they had apprehended and placed under custody three executives, including its two co-chief executive officers, from the crypto yield platform Haru Invest. The trio is facing accusations from Seoul prosecutors of embezzling about 1.1 trillion Korean won, which translates to roughly $826 million in crypto, from around 16,000 users. Haru Invest Executives Arrested in South Korea According to a report by local news agency Yonhap,...

Activity around Bitcoin spot ETFs has slowed substantially this week, with two major funds losing their undefeated streak of inflows since launch. On Monday, both the Bitwise Bitcoin ETF (BITB) and the ARK 21Shares Bitcoin ETF (ARKB) saw their first day of net zero inflows. Loss Of Momentum For Bitcoin Spot ETFs According to data from Bloomberg Terminal, daily volume across both ETFs tapped $23.4 million and $50.5 million respectively. It’s a clear step down in performance...

New research by the cybersecurity reporters at 404 Media has uncovered a new tool named OnlyFakes that reliably generates fake IDs capable of bypassing KYC providers’ checks with relative ease. The fake documents can be generated with or without a background, which would suggest it is a picture that was just taken by a user going through an ID verification process. Allegedly, several hundred fake documents can be produced at once using Excel batches. OnlyFakes Claims to Be...

Digital Currency Group (DCG) has filed a motion objecting to the bankruptcy plan proposed by Genesis Global Capital, its subsidiary, citing violations of the Bankruptcy Code. The objection – lodged on February 5th – asserts that Genesis’ plan exceeds the legal entitlements of its customers, potentially favoring a select group of creditors while stripping DCG of its rights. Instead of adhering to US bankruptcy laws, the venture capital firm said that Genesis has suggested...

A cryptocurrency trader has profited more than a million dollars from a less than $100,000 purchase of the just launched Pandora (PANDORA) token. According to a tweet by market analytics platform LookOnChain, the trader’s purchase recorded gains after two days. The price of #Pandora, the first token built on the #ERC404 token standard, has now risen to over $8,600. A trader has made a total profit of ~$1.2M on #Pandora in just 2 days! The trader spent 97,484 $USDT to buy 154...

A former developer at Terraform Labs, known only as “Lee,” reportedly took the stand on Monday at the 14th Criminal Division of the Seoul Southern District Court, testifying against the company’s co-founders, Kwon Do-hyeong and Shin Hyun-seung. The witness, formerly a leader within the Terra development team, provided crucial testimony against Terra founder Do Kwon and Terraform Labs co-founder Shin Hyun-seung. Lee’s Testimony According to a local media outlet report, Lee...

Dogecoin’s price has found significant resistance from the $0.08 level despite a brief upward breakout. The OG meme coin’s trajectory hasn’t been in tandem with the rest of the crypto market. This, however, has not stopped the network from witnessing growth across various metrics. Dogecoin Sees Increased Network Activity Dogecoin’s value has declined by 23% since its local peak on December 9th. Despite this, the number of wallets holding >0 DOGE is growing at a record pace...

Speculation about the South Korean government rethinking its hostile stance on spot Bitcoin exchange-traded funds (ETFs) may be true, as the country’s financial regulator has officially indicated interest in the products. A report from local media outlet Hankyung has revealed that the Financial Supervisory Service (FSS) of South Korea intends to meet with the United States Securities and Exchange Commission (SEC) to discuss the crypto industry and spot Bitcoin ETFs. FSS to...

Investment products for digital assets received significant influxes of $708 million last week, contributing to year-to-date inflows of $1.6 billion and increasing the total global assets under management to $53 billion. However, trading volumes in ETPs dropped to $8.2 billion from the previous week’s total of $10.6 billion, though they still surpass the 2023 weekly average of $1.5 billion. According to CoinShares’ latest report, these volumes represent 29% of Bitcoin’s...

Self-styled Bitcoin creator Craig Wright appeared in court on Monday to face well-funded prosecutors seeking to prove that the computer scientist is not, in fact, Satoshi Nakamoto. The legal battle is widely expected to bring an end to recurring lawsuits launched by Wright against the crypto community, which has largely met his proclamations with skepticism and derision. The ‘Beginning of the End’ for Craig Wright The first day of trial features skeleton arguments from both...